IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jan 2018 | Removal date: open ended
Still in force

Local sourcing

As of 1 January 2018, the government of Kenya via Finance Act 2017, for the first time required for all persons with an insurable interest in the marine cargo sector, to acquire marine insurance exclusively with local insurers registered in the Kenyan jurisdiction. Previously, persons with an insurable interest in the marine cargo sector were allowed to place marine insurance with insurance firms located outside of Kenya. The core scope of this amendment is to promote the local insurance sector of Kenya.

 

 

AFFECTED COUNTRIES

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